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I can verify - the same thing happens for me, I've got, say, 3 tabs open that I'm browsing with and it still consistently maxes out 99-100% 4 2.66GHZ CORE 2 DUOS!! I have to say this could, regrettably, be the clinch feature for me - a web browser just can't take that much; I need to run Parallels and other applications that 'ought' to be CPU-intensive as well, without having to close my web browser...

Generally it can be traced back to sites that poorly built Flash content or JavaScripts. Sometimes the JS continues to run even after the browser windows are closed. (That's why I asked about if the problem occurs after OW is restarted.)

This is a problem in all browsers. Right now Safari is in the background and eating up 80%+ of my CPU.